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Originally posted by murfdog
reply to post by thoughtsfull
I agree with all except the part about being in repayment mode. The housing market is heading for what many see as being another massive wave of defaults. All of the 2005-2007 adjustable rate mortgages that were primarily teaser rates (short term low rates just to get people to qualify) are due to adjust starting some time this year. When this happens they are expecting possibly 40-50% of them to go into default. If this occurs, based on what happened in 08, we should see another collapse in the financial markets leading to a panic in the stock market possibly worse what than we had in the early part of 09. Remember many investors were caught of guard last time and will not want to be last to the exit this time around.
Obviously no one has a crystal ball (yes even the people on the prophecy threads) but I feel it would be prudent to prepare for the worst but hope for the best, and vote for conservatives (not democrats or republicans)but true conservatives this fall.
[edit on 18-1-2010 by murfdog]